Brexit Day 29: We're heading for recession, the only question is how deep

Financial institution Morgan Stanley have said that we're heading for a recession as a result of Brexit. The only question is exactly when it will start and how deep it will be.

Ironically one of problems that they highlight is that the coming recession will take longer to start and thus will take longer to stop.

"In particular, we see a risk that the slowdown could come through more slowly, e.g., if firms complete investment under way and only cut back on new investment more gradually, and that the recovery could also be more gradual, e.g., if the policy response is less robust or uncertainty persists." - Morgan Stanley